News Cpa Forecasts 22 Growth 2014

The Construction Products Association (CPA) is expecting construction output to grow by 2.2% in 2014 and by as much as 4.5% in 2015 – so long as the economic recovery and government support continues.

The organisation says that while it is still expecting an overall fall of 1.5% this year, even with growth in the second half, it expects to see full-year growth in both of the next two years driven first by a boom in house building and later by more infrastructure work.

CPA economics director Noble Francis said: “Help to Buy has clearly stimulated demand and led to increasing supply from housebuilders. We forecast housing starts will rise 39% by 2015.”

Infrastructure, the CPA says, will be boosted by Crossrail and energy projects.

However Francis warned that such growth could not be guaranteed, unless the government was seen to translate words into action.
He said: “Recent housing policies have proved that when government announcements are followed through, the result is immediate and significant. Help to Buy Part 2 would be expected to make an even wider and more significant contribution through its support for the secondary housing market. Should the government do the same in other parts of construction then this industry will further support the wider economic recovery.”

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